Page 10 of 12 ... 89101112
Results 91 to 100 of 113
  1. J56D is offline
    Enthusiast
    J56D's Avatar
    Joined: Jul 2008 Posts: 173
    10-16-2008, 07:32 PM #91
    I think that u meant to say the bottom of page 3

  2. otone is offline
    Enthusiast
    otone's Avatar
    Joined: Sep 2008 Posts: 243
    10-16-2008, 07:34 PM #92
    Ya I guess... In my pdf viewer it was page 4. Regardless. Would like an opinion on what exactly it means to us shareholders.

  3. Demian is offline
    Mentor
    Demian's Avatar
    Joined: Oct 2008 Posts: 2,320
    10-16-2008, 07:57 PM #93
    Here is my response to your question that you posted twice and that I responded to in another thread...

    Otone,

    I would not jump to conclusions from this. Having something at your disposal is not the same thing as using it. Maybe Mel is sending a message to the bond holders that there is no way in hell that he will extend the converts no matter what he has to do. Mel stated pretty clearly that a reverse split was not in the companies interest during the Q2 earnings call....


    Mel Karmazin

    "We are well aware that the stock price has suffered. I am not pleased with the market reaction.
    You have all seen my own public purchase of 2 million shares this week. I had been restricted from buying Sirius stock from the time I began merger discussions, which was over two years ago. The bottom line is this -- Sirius received FCC approval, accomplished the financing, and closed the transaction. We intend to work very hard to deliver on the value of this merger and meet our objectives.
    Third, we have no plans for a reverse split. It’s hard to see how that would add any value to our company."


    The stock is actually trading up in AH a bit.....I would not listen to the bearish scare talk surrounding this shareholder meeting release. Mel has stated his intentions very clearly. He wants the stock to go up and the company to be successful...

  4. otone is offline
    Enthusiast
    otone's Avatar
    Joined: Sep 2008 Posts: 243
    10-16-2008, 08:27 PM #94
    Thanks Demian, I apologized for the double post a few posts up. Just blew a gasket after seeing this and needed to read something encouraging from the experts on this board. Moderators, please feel free to remove my other post.

    Short term, I don't think there is anything positive that is going to come out of this, but we'll see. My 45k shares are still worth enough right now that I could get out and back in later and maybe come out ok.

    crap.

  5. Demian is offline
    Mentor
    Demian's Avatar
    Joined: Oct 2008 Posts: 2,320
    10-16-2008, 08:44 PM #95
    Otone,

    SIRI is testing it's recent low and, even as it could go lower, it seems quite risky trying to trade it at this level. You could just as well miss a big move upwards.... If you want to trade it, at least wait for a big morning gap up to sell....your chances of being abble to buy it back cheaper are much greater then.

  6. billybob is offline
    Junior Member
    billybob's Avatar
    Joined: Oct 2008 Posts: 5
    10-17-2008, 11:03 AM #96
    Been lurking... Got in today at .37
    Hard to believe this company and technology will not survive.
    Very well liked and fees are reasonable in my circle of friends. (late 40's)

    my 2cents

  7. Demian is offline
    Mentor
    Demian's Avatar
    Joined: Oct 2008 Posts: 2,320
    10-17-2008, 01:19 PM #97
    SIRI is trading around .37 - just above it's 52 week low of .36...........

    This article seems misleading to me.....

    http://www.reuters.com/article/marke...46375320081017

    Sirius XM considers reverse stock split
    Fri Oct 17, 2008 12:19pm ED

    NEW YORK, Oct 17 (Reuters) - Sirius XM Radio Inc (SIRI.O: Quote, Profile, Research, Stock Buzz) is considering a reverse stock split in an effort to lift its depressed share price and avoid the risk of being delisted from the Nasdaq stock market, the satellite radio company said.

    Sirius, whose share price has plunged below 40 cents due to concerns about subscriber growth and its ability to repay debt, has asked shareholders for the right to declare a reverse split of its common shares by a ratio somewhere between 1-for-10 to 1-for-50, it said in a filing late Thursday.

    One of Nasdaq's criteria for remaining listed on the exchange is that a company's common stock must have a trading price of $1.00 per share, and remain at that level for 30 straight business days.

    Sirius's shares have traded below $1 since Sept. 19.

    "Although our common stock's trading price has not been below the $1 per share level for 30 consecutive trading days ... we believe that approval of this proposal would significantly reduce our risk of not meeting this continued listing standard in the future," the statement said.

    The plan, already approved by Sirius's board, comes after Chief Executive Mel Karmazin said in August that there were no plans for a reverse split.

    Sirius closed its purchase of rival satellite radio operator XM Satellite in July, after waiting for regulatory approval for 17 months.

    The shares traded down 2 cents at 37 cents on Friday and have lost about 75 percent of their value since July, when they sold at around $1.60.

    If ratified, the plan would shrink the number of outstanding shares from anywhere from about 65 million to 320 million shares from the current 3.2 billion shares.

    In the filing, the company also asked shareholders to approve a plan to increase the number of authorized shares of common stock to 8 billion from 4.5 billion. Sirius has about $1.05 billion in debt due to mature in 2009, and may sell stock to pay the obligation if it's unable to refinance. (To read more about our Media news, visit out MediaFile blog online at blogs.reuters.com/mediafile) (Reporting by Franklin Paul; editing by Jeffrey Benkoe)
    Last edited by Demian; 10-17-2008 at 01:41 PM.

  8. Demian is offline
    Mentor
    Demian's Avatar
    Joined: Oct 2008 Posts: 2,320
    10-17-2008, 01:25 PM #98
    http://charlotte.bizjournals.com/was...3/daily54.html

    Thursday, October 16, 2008 - 10:03 AM EDT
    Sirius XM makes cuts to XM in D.C.


    Sirius XM Inc. has laid off at least 50 on-air and off-air employees in D.C., according to several published reports.

    Officials with Sirius XM in D.C. and New York did not return calls or e-mails seeking comment.

    XM Satellite, which became a wholly owned subsidiary of New York-based Sirius XM after the $3.3 billion merger, kept its D.C. broadcasting headquarters under the deal.

    In a voice mail message, David Butler, a spokesman at XM in D.C., said his last day at the company was Oct. 10.

    The company has already announced a “best of both” line-up for XM customers, which includes additional Sirius programming options.

    Sirius XM Chief Executive Mel Karmazin has started the belt tightening while assuring Wall Street analysts Tuesday at the Media and Money Conference in New York. He assured analysts that his sputtering satellite radio company will eventually turn a profit.

    Karmazin just has to refinance more than $1 billion in debt amidst the U.S. credit drought.

    Sirius XM has $1.1 billion in debt due in 2009, $300 million of which is due in February.

    The company’s stock (NASDAQ: SIRI) has faltered, closing below $1 a share since Sept. 22. Shares closed at 42 cents apiece Oct. 15.

    Nevertheless, Karmazin told analysts that he expects revenue streams -- despite low auto sales -- to deliver $300 million to $400 million in revenue next year.

    Billy Zero, program director at XMU (Channel 43), and the alternative music channel’s “Dean of Music” Tobi were among those put on the chopping block.

    On the XMU Nation Web site they said they “have enjoyed the years of love, music, fun and passion we have exchanged with our friends in music.”

    The merged company’s 19.5 million subscribers make it the second-biggest subsciption-based media company, after Comcast.

    “We’re probably one of the top 25 media companies today,” said Karmazin on Oct. 14, according to CNet. “I think it’s very clear that we will be the most successful company in the audio entertainment industry. I know certainly, as ranked by revenue, we’ll be there soon. Now we just need to grow our free cash flow and demon

  9. Demian is offline
    Mentor
    Demian's Avatar
    Joined: Oct 2008 Posts: 2,320
    10-17-2008, 01:43 PM #99
    .37 seems to be showing strong support for quite awhile now, but who knows with SIRI? Another huge up day in the market and SIRI is like the fat girl not invited to the party again......

  10. Demian is offline
    Mentor
    Demian's Avatar
    Joined: Oct 2008 Posts: 2,320
    10-17-2008, 02:59 PM #100
    The Motley Fool is at it again with 2 more SIRI articles just today....

    http://www.fool.com/investing/genera...re-coming.aspx

    "...Companies like Six Flags, Rite Aid, and satellite radio titan Sirius XM Radio (Nasdaq: SIRI) that find themselves breaking the buck aren't approaching worthlessness. They typically have substantial debt on their books, so their enterprise values are substantially higher than their meager market caps. Reverse splits won't clean up the balance sheets. The cosmetic turn of a reverse split may enhance the perceived value of a company, but it's really a zero-sum game. The companies will eventually have to reward shareowners with real capital appreciation the old fashioned way: They will have to earn it..."

    http://www.fool.com/investing/high-g...to-shrink.aspx

    Sirius Shrinks to Expand, Expands to Shrink
    By Rick Aristotle Munarriz
    October 17, 2008

    What's a little synergy without sin?

    The Washington Post is reporting that 80 Washington, D.C.-based XM employees have been let go this week, clearing the way for cost savings that may eventually transform satellite radio behemoth Sirius XM Radio (Nasdaq: SIRI) into a cash-flow positive giant.

    It doesn't end with just a few dozen dismissals, of course. The real savings will come as the company more effectively services its now 18.6 million combined subscriber base, takes advantage of opportunities to lower programming costs, and can spend money marketing satellite radio as a platform (instead of two rival services).

    With shrinking operations to expand profitability on the one hand, the company is set to expand its share count to ultimately shrink it later on the other.

    The company filed plans for December's annual shareholder meeting with the SEC last night, gearing up to ask investors to approve the widening of its authorized shares (from 4.5 billion to 8 billion) as well as an eventual reverse split.

    Beefing up the authorized share count is not in response to an outside takeover. The company simply wants the flexibility to dole out more shares. It would be dilutive, naturally, but it's one way for the company to buy its way out of three hefty debt repayments that are due next year.

    As for the reverse stock split, I think we all saw this coming. The stock hasn't traded above $1 since mid-September, so a Nasdaq delisting notice is coming. After 30 trading days below the buck mark, the exchange threatens to boot a stock if the share price isn't brought back up within the next six months. A reverse split solves that, if the company can't work its way back up on its own.

    Several companies, including Priceline.com (Nasdaq: PCLN), JDS Uniphase (Nasdaq: JDSU), and most recently Sun Microsystems (Nasdaq: JAVA), have survived reverse splits.

    Sirius also isn't the only radio stock trading for pocket change. Terrestrial broadcasters like Citadel Broadcasting (NYSE: CDL), Emmis Communications (Nasdaq: EMMS), and Regent (Nasdaq: RGCI) have all broken the buck in the market downturn.

    Considering the shrinking headcount -- and eventually the shrinking share count, post-reverse -- Sirius XM is simply taking steps backward to take a larger step forward in the future.

Page 10 of 12 ... 89101112